Consolidation is a federal program that allows you to save thousands--but only if you take advantage of it!

Safeguard Your Financial Life

1. Shred old documents . One of the best ways you can protect yourself against potential fraud or identity theft is to eliminate your own paper trail. A basic desktop shredder will work for a few sheets at a time, but for large quantities you may want to contact a commercial shredder who will also handle household needs. I was able to locate a document disposal service in my area that would allow me to drop off up to 250 lbs. of paper for $50 — not too high a price to pay for peace of mind.

2. Use a credit card with a small limit for mail-order and online purchases. It's all too easy for a dishonest sales clerk to use your credit card information. If the card you use for these purchases has a low credit limit, at least thieves won't be able to rack up many bills before hitting a wall.

3. Get it in writing . Require anyone who solicits you over the phone to first send their information by mail, so you can check its legitimacy. While you can curtail the number of phone solicitations you receive by placing your number on the National Do Not Call registry, it won't get rid of everybody. Certain organizations, like charities, political groups, telephone surveyors, and companies with whom you already do business, are still permitted to call.

4. Review your monthly statements . Like flossing your teeth, this is a simple thing you can do to ward off calamity, yet it's surprising how many folks neglect to do it. Not only will reviewing your monthly statements alert you to possible fraudulent charges, you may also find legitimate charges for services that are either redundant or no longer necessary. For example, a close friend of mine realized she had been paying for two AAA memberships, one under her maiden name and one under her married name — for four years! Lesson learned.

5. Prepare for disaster . With the recent anniversaries of Hurricane Katrina and Sept. 11 looming large in the American psyche, it's more important than ever to make sure you safeguard your family's important documents in case of a disaster.

6. Choose your PIN wisely . While you want to choose something you'll remember, you don't want it to be something that a clever thief could figure out just by learning your birth date or your child's name. A combination of uppercase and lowercase letters, numbers, and symbols will offer you more security.

7. Guard your Social Security number . Make sure that anyone asking for your Social Security number really needs it. Often businesses that ask for a Social Security number can use an alternative customer identification number if you ask. Make sure not to print your Social Security number on checks or in other highly visible places. For more information on protecting your Social Security number, check the Privacy Rights Clearinghouse.

8. Opt yourself out of all pre-approved credit card offers . If your mailbox is anything like ours, it's littered with pre-approved credit offers and cash-advance checks, all of which could spell disaster in the hands of the unscrupulous. Instead of tossing these in the garbage, call 888-567-8688 to eliminate them for up to five years. I was able to register my name and my husband's in a three-minute phone call.

9. Be vigilant while using the Internet . As the victim of a phishing scam myself, I can't stress this enough. All it takes is one lapse of judgment, and you may find your accounts drained and your credit tarnished. Independently verify the validity of any requests for personal information before you give out any of your sensitive data.

10. Protect your computer's security . Use as many tools as you can (anti-virus software, spyware, firewalls, and passwords) to guard your computer information from the nefarious. Failing to protect your computer is just as bad as leaving your door unlocked, your windows wide open, and a sign on the mat, saying, "Burglars, come on in."

No need to make the thieves' jobs any easier. Though they're not foolproof, these simple tips will help ensure that your financial data is a whole lot safer.

This article is adapted from theMotley Fool GreenLight "Money Answers" archive, which features more than 100 articles on personal-finance topics from taxes to credit to beginning investing, organized by subject and life stage. For access to this content plus the current newsletter, back issues, members-only discussion boards, and advisor blogs, take a free 30-day trialto GreenLight today!

Fool contributor Elizabeth Brokamp writes a weekly column, "Ask Mrs. Riches," on money and relationships. Her charming other half is The Motley Fool's own Robert Brokamp (TMF Bro), editor of Rule Your Retirement.

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On April 3 Senator Edward M. Kennedy (D-MA) introduced legislation that would make sweeping changes to federal financial aid. The bill, given the short name ''Strengthening Student Aid for All Act,'' is intended to ensure students have sufficient access to financial aid, in the forms of both grants and loans.

While searching for lenders to do my consolidations, Law School Loans was the only company willing to help me with a repayment plan to fit my needs. The people that I spoke with were willing to listen and eager to help. In the end, I found the plan that suited my financial needs perfectly. - Tyler R. Phoenix, AZ

Your Federal Benefits

If you are still in-school, you may reserve your consolidation for graduation with Law School Loans. By signing and returning your application now, you will be guaranteed the current low rates on your consolidation, and you will not have to think about your consolidation again until you enter repayment.

Law School Loans' borrower benefits program enables you to reduce your interest rate by an additional 0.25% for using our automatic debit program.

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*The final fixed interest rate for your federal loan consolidation loan is calculated as the weighted average of the interest rates on the loans being consolidated rounded up to the nearest one-eighth of a percent. Your exact monthly payment reduction may vary depending on your loan. Law School Loans Financial reserves the right to modify, expand or discontinue this offer at any time without notice.